The House of Representatives has directed the Bureau of Public Enterprise (BPE) and the Niger Delta Power Holding Company to immediately stop the planned sale of five power plants belonging to the three tiers of government.
According to the house, the sales did not follow due process.
Adopting a motion of urgent public importance sponsored by the Chairman of the House Committee on Power, Magaji Aliyu Dau, the House asked BPE’s Director General Alex Okoh to desist from any act aimed at facilitating the sales of the five power plants until such sales are duly authorized by the shareholders at a formal meeting, as stipulated in the Companies and Allied Matters Act (CAMA) 2020.
Leading a debate on the motion, Dau said the National Council on Privatisation and Board of Directors of the NDPHC, in collaboration with the BPE, through a request for expression of interest, had resolved to sell the five power plants located in Calabar, Cross River State; Ihorbor in Edo State; Olorunsogo in Ogun State; Omotosho in Ondo State and Geregu in Kogi State.
According to him, the plants were constructed under the National Integrated Power Project (NIPP) with gross installed capacities at 150 conditions 5O7.6MW, 507MW, 634MW, 513MW, and 754MW, respectively, to ensure the stability of Nigeria’s Power sector.
Dau expressed concerns that the Federal Government insisted on selling the assets, even though the consent of the other shareholders had not been resolved.
